An IRS attorney from the Estate and Gift Tax Office of Tax Policy created quite a stir at the American Bar Association’s Section of Taxation meeting in May. The IRS attorney noted the Service’s intent to release new proposed regulations by mid-September that would likely include new “disregarded res...

This short article will shed light on the titling of an inherited IRA and the maneuvering of retirement assets through the disclaimer process. First and foremost, it is always recommended that you work with a competent, educated, and experienced advisor to keep your retirement funds safe and secure...

First, for income tax purposes, if the beneficiary is an irrevocable trust, the annuity must be paid within 5 years of H's death, unless the annuity has been annuitized. However, if the RLT is the owner, the incapacity of H will leave the successor trustee in control of the annuity. That may be pr...

Many retirees today worry about having enough money for their retirement. Of special concern is if there will be enough money to provide for the surviving spouse. This is called “shortfall risk,” and it is a valid concern. People are living longer and health care costs continue rising, especially lo...

OK, great! You’ve finally decided it’s time to meet with an estate planning attorney and get your affairs in order. It’s time to make sure your family is protected.
Now that you’ve scheduled the first appointment, what’s the next step?
You can do one of two things: (1) Simply wait for the me...

If you’ve set up a Revocable Living Trust, congratulations! You’re definitely on the right track. But…you’re only half way there. Many believe because they took the time to create a Trust, their estate will automatically avoid probate. Unfortunately, this is a false sense of security.
The key t...

Probate can be easily avoided, but most estates are dragged through the process. Why? Many people fail to create an estate plan, so probate is required. And - others plan with just a Will, so probate is required. As a result, assets end up at the mercy of a probate judge, open to public scrutiny...

I’m sure you have heard this less than eloquent phrase before – “Garbage in, garbage out.” The phrase is typically used in computer programming and scientific research. Unfortunately, it also applies to the law, legal documents, and writing your own Will.
What’s Wrong With Writing Your O...

It’s that time of year – the time for beautiful weddings, fun receptions, delicious cakes, special gifts, and romantic honeymoons. While this is a joyous time for everyone, it’s also time for you and your new spouse to plan for your future – for richer or for poorer, in sickness and in health.
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As a firm we have extensive experience in advising both individuals and businesses on family and business succession planning, document drafting, and tax strategies.
We also specialize in supporting families of wealth to create a business planning environment that fosters stewardship opportunities for generations.